Stocks To Buy Today, Dec 15: Top 2 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Monday

The Nifty fell 139 points to settle at 26,046 and the Sensex fell 445 points to end at 85,268 in the previous week as markets continued to be erratic and wrapped up the week in negative territory amid conflicting ahead of India's Wholesale Price Index (WPI) inflation and trade balance figures, which will be released this week, making for a bustling domestic data calendar. Additionally, the HSBC Composite, Manufacturing, and Services PMI flash data will be widely monitored. The spotlight will continue to be on developments pertaining to trade talks between the US and India.

Nifty Outlook Today

"Nifty staged a notable recovery toward the end of the week, establishing a firm demand zone; however, the broader trend remains delicate as the index continues to form lower highs, indicating persistent supply pressure around 26,200. The 26,000-25,900 band emerges as a crucial support area, having previously acted as a strong resistance zone," commented Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"The gradual shift in call-writers' positions to higher strikes, coupled with active put writing near at-the-money levels, further emphasises the prevailing range-bound structure. A decisive breakout above 26,200 could rekindle bullish momentum and pave the way for a move towards 26,350. On the downside, a breach of 25,900 may weaken the broader structure and trigger accelerated selling, potentially dragging the index toward 25,700," he further added.

Bank Nifty Outlook Today

"Nifty Bank staged a recovery toward the end of the week, establishing a meaningful demand area; however, the broader structure remains vulnerable due to the ongoing lower-high formation, which signals persistent selling interest near the 59,500 mark. The 58,800-59,000 zone emerges as a crucial support pocket, previously acting as resistance and now serving as a key reference point for bulls, commented Dhupesh Dhameja.

"Both call and put writers maintaining significant positions around at-the-money levels further reinforce the prevailing range-bound setup. A sustained breakout above 59,500 could revive bullish momentum and pave the way for an advance toward 60,000. On the flip side, a slip below 58,800 may weaken the broader structure and trigger accelerated selling pressure, potentially dragging the index toward 58,500," the analyst further added.

Stocks To Buy Today

On Monday, December 15, technical analyst Riyank Arora of Mehta Equities Ltd. recommended buying two stocks following the Nifty's recovery to the crucial psychological level of 26,000 during the preceding session.

Dixon Technologies

Buy at CMP: Rs 13,380 | SL: Rs 12,000 | Target: Rs 14,400

Dixon Technologies continues its strong bullish trend, supported by robust volume activity and sustained buying interest. The stock recently broke out of a consolidation phase and remains well-positioned for further upside. As long as it holds above ₹12,000, momentum is likely to extend toward ₹14,400 in the coming sessions.

Juniper Hotels

Buy at CMP: Rs 261 | SL: Rs 250 | Target: Rs 275 / Rs 285

Juniper Hotels has been forming a steady higher-low structure, indicating accumulation at lower levels. The stock is attempting to sustain above its short-term moving averages, suggesting improving strength. A move above ₹265 could accelerate the uptrend toward ₹275-₹285. Traders can consider buying near ₹261-₹263 with a stop loss at ₹250.

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